What's really happening is that 99¢ and $2.99 ebooks are driving readers to INDIE AUTHORS.
If you love facts and figures, you'll love this article, especially the full report. But if numbers make you cringe, I'll try to give you a few of the highlights, although I just can't do the report justice with a short post.
In a nut shell, Steve sent out his Kindle Nation Citizen Survey to his many followers and 2,360 readers responed. I don't know how much you know about statistics but 2,360 is an impressive response by any scientific standard. So please do not shrug off these results; they could be very important to you.
Below are a few of the results of this survey. These results show the current trends in ebook pricing and reader preferences regarding what they are reading. And just so you know, I'm a huge proponent of the 99¢-$3.99 price point strategy and I tell you why in my book, The Indie Author's Guide to the Universe. I also tell you how to use a pricing strategy I call, Floatation Pricing. This method is very helpful in not only getting you a higher ranking, but could get you closer to Amazon's Top 100.
I'm also a huge believer in the Amazon KDP Select program. I believe authors have a unique opportunity to reach the Top 100 thanks to the Select "free promotion", so this report is also valuable in understanding where you should spend your marketing time and resources.
After reading this report, you'll want to find out what I think about ebook marketing. I've written a clear, and so far, effective marketing plan in The Indie Author's Guide to the Universe, so I am glad to report that my ideas about promoting books are in line with the results of this survey.
Here are a few snippets that might interest you….
Here are a few snippets that might interest you….
Survey Results:
(taken directly from the newsletter)
(taken directly from the newsletter)
Statement #1:
"Higher prices for new releases from big publishers have driven me to try more and more indie authors, and I like what I have found.
Results:
61% agreed with that statement, and only 14% disagreed. Just to make sure, we also flipped the statement.
Statement #2:
Higher prices for new releases from big publishers have driven me to try some indie authors but I haven't found much quality there so I have gone back to paying higher prices.
Results:
Only 7% agreed with that statement, and a whopping 65% disagreed."
That's good news for indie authors! We are making a difference. But don't stop working hard; we still have 35% more to go!
Here are some other results…
"Among our survey respondents, sources such as newspaper, magazine book reviews, and mentions on the electronic media are less and less influencial. Just 8% of our respondents are driven to buy ebooks once a month or more from these influences. How about brick-and-mortar bookstores and libraries? You see a book on display and download the ebook, right? Not so much. Only 9% of our respondants are driven to buy ebooks once a month or more by these influences."
~ 11% of the respondents buy ebooks once a month or more based on the influences of friends, colleagues and relatives.
~ 17% say they buy ebooks after noticing them on the best-seller list!
WOW! That is important news for indie authors; not only in how readers view us, but also in helping us plan our attack. There are more stats, but these really stuck out in my mind.
I highly recommend you read this article.
But before you do, I suggest grabbing a copy of my newly released book, The Indie Author's Guide to the Universe so you'll know how to apply these statistics and what they mean to you as an author. The survey is the "what" and the book is the "what now?"
I highly recommend you read this article.
But before you do, I suggest grabbing a copy of my newly released book, The Indie Author's Guide to the Universe so you'll know how to apply these statistics and what they mean to you as an author. The survey is the "what" and the book is the "what now?"
Jeff Bennington is the author of Twisted Vengeance, Reunion, and Creepy
The Indie Author's Guide to the Universe is only $3.99 on Amazon for a limited time for my readers!
